Wiiminder has all the information you need to start playing poker with Bitcoins. We share our experience that comes from years of playing. Read more to find the latest reviews, news, and articles!
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If you are familiar with playing poker in a real life casino or on the Internet, then using Bitcoin as a currency should be a cinch.
For convenience, deposits in poker rooms are denominated in BTC. On most sites, one chip is equivalent to 0.001 BTC. The chips themselves can be divisible into smaller units, just like the Bitcoin currency. This feature is especially useful in micro stakes tables where the blinds may be as low as 0.1 chips.
Every account at a Bitcoin poker site has a unique address. When moving funds into your account, you need to open up your wallet (online or on your computer) and send the desired amount of BTC to the address provided.
Cashing out is just as easy. All you have to do is submit your own address, and enter how much money you want to withdraw. Bitcoin was designed to make online payments, so the whole process is very straightforward and fast.
Why should you use Bitcoin to play poker?
For most people, the answer is obvious. If you’re still not sure why you should use a digital currency, then let us explain.
It’s fast and cheap
The fees associated with a Bitcoin transfer are very low. According to bitcoin.org, you can send transactions without being charged a single penny. However, your wallet software may add a small fee worth a few cents to speed up the transaction and make sure it is confirmed.
Bitcoin can be transferred from any place on Earth to any other place in seconds. You can think of it as an email containing money rather than a message. That means you can deposit into a poker site, play a few hands, and withdraw right away. Long gone are the days of waiting for a check to arrive!
It’s safe and secure
Once Bitcoins have been sent from one wallet to another, it is impossible to reverse the transaction. There is no way for someone to get their money back, unless the receiver willingly returns it.
This property of cryptocurrencies has its advantages and disadvantages. For instance, if you won a poker tournament, nobody would be able to steal your hard-earned winnings from you. However, the same rule applies the other way around too. If you make the mistake of sending money to a shady site running a scam, then it’s very unlikely you’ll get it back.
You can read our reviews on Wiiminder to find the best bitcoin poker sites!